UniSuper is putting more than $56m into Uniseed, marking the superannuation fund’s first major foray into venture capital.

Peter Devine (left) and John Pearce (right)

Uniseed, the Australia-based multi-university venture fund, secured a A$75m ($56.2m) commitment from superannuation fund UniSuper yesterday.

The investment marks UniSuper’s first major foray into venture capital, chief investment officer John Pearce told the Australian Financial Review. UniSuper hoped that it would turn “into a much more significant investment over time”, he added.

Unisex was founded in 2000 and is backed by CSIRO as well as the universities of Melbourne, New South Wales, Queensland and Sydney. It currently has 61 companies in its portfolio, having celebrated 12 exits by its 20th anniversary in 2020.

Chief executive Peter Devine previously joined Global University Venturing’s podcast, Talking Tech Transfer, to discuss Uniseed’s investment thesis.

On the partnership with UniSuper, Devine commented: “Today’s emergent startups are tomorrow’s tech and health giants, and with funding from…

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).